Bhageria Industries Limited
NSE: BHAGERIADyes And PigmentsASM stage 1
Share price
₹367.00
-2.79% close of 8 Oct 2026
Price-based ratios (P/B, dividend yield, EV/EBITDA) are as of 7 Oct 2026, the close above is 8 Oct 2026.
Business score
How strong the business is, in one number. The parts behind it are in Pro.
58
out of 100 · worked out 8 Oct 2026
Your ratios
The numbers you want to see first. Tap Edit to change them.
Market cap
₹1,615 Cr
P/E ratio
23.4
P/B ratio
2.7
ROCE
9.4%
ROE
7.1%
Dividend yield
0.7%
Price & valuation chart
How the share price and its valuation have moved. Hover over the chart to see any day. Prices as of the last close.
Answers
Simple answers to the questions investors ask most, from the company's own numbers.
How fast it has been growing
Our sales figures for this company step down at Dec 2008 and we hold nothing that says why, so we cannot honestly quote a growth rate across it.
Whether it grew faster than its sector
Our sales figures for this company step down at Dec 2008 and we hold nothing that says why, so there is no honest growth rate of its own to set against its sector.
Room to re-rate, or risk of de-rating
At 23.4× earnings against a market that pays 23.9× across 2199 companies we can price. Its own industry sits at 21.7×, across 5 companies. It is against its own five-year median of 20.7×, the 63rd percentile of its own range.
Whether growth justifies the valuation
Priced at 0.5 times its growth rate, on earnings growth of 45%.
| Profit growth | Price per ₹1 profit | Per 1% growth | |
|---|---|---|---|
| Bhageria Industries Limited — this one | 45%/yr | 23.4× | ₹0.52 |
| Sudarshan Chemical Industries Limited | -25%/yr | 93.2× | — |
| Kiri Industries Limited | — | 4.0× | — |
| Bodal Chemicals Limited | -16%/yr | 32.2× | — |
| Shree Pushkar Chemicals & Fertilisers Limited | 23%/yr | 21.7× | ₹0.94 |
| Ultramarine & Pigments Limited | 5%/yr | 13.2× | ₹2.6 |
Compared with companies filed under the same label. That grouping comes from the exchange's filing category, so some of them may not be real rivals.
How it compares with its peers
Against companies the exchange files under the same label (Dyes And Pigments), it ranks 4 of 11 on returns, 2 of 11 on growth, 3 of 11 on margin. That grouping comes from the exchange's filing category, so some of them may not be real rivals.
What makes it hard to beat — and is that still true?
No durable advantage shows in the numbers: it earns 9.4% on capital, ahead of 64% of companies filed under the same label. That grouping comes from the exchange's filing category, so some of them may not be real rivals.
Whether its growth pays for itself
Roughly — Over the last five years it made ₹275 crore of cash from the business and spent about as much on plant and equipment. And the profit is real: of every 100 rupees it reported over 7 years, about 124 arrived as cash (before interest, which is why it can exceed the profit). Its cash comes back faster than it used to: it went from being waiting 68 days for its cash to waiting 59 days for its cash.
Profit reality check
Is the profit real cash? Simple checks on the accounts. Facts only, not advice.
7 of 9 checks clear · 78%
Latest result
What the last results showed. Whether management kept its word is in Pro.
Results are expected soon.
Checklist before you investPRO
Points for and against, in one list.
Key numbers & peers
The main numbers grouped by topic, and how the company compares with similar ones.
Price
- Market cap
- ₹1,615 Cr
- Prev close
- ₹367.00
- 52w High
- ₹416
- 52w Low
- ₹128
- Enterprise value
- ₹1,705 Cr
- Beta
- 1.1
- Price CAGR 1y
- 113.0%
- Price CAGR 3y
- 34.0%
- Price CAGR 5y
- 4.0%
- Price CAGR 10y
- 9.0%
Ratios
- Return on assets
- 5.1%
- PEG ratio
- 0.5
- P/E ratio
- 23.4
- P/B ratio
- 2.7
- EV / EBITDA
- 18.8
- Industry P/E
- 21.9
- ROCE
- 9.4%
- ROCE 5y average
- 9.0%
- ROE
- 7.1%
- Debt / Equity
- 0.2
- Interest coverage
- 21.7
- Dividend yield
- 0.7%
- ROE 3y average
- 5.0%
- ROE last year
- 7.0%
Annual P&L
- Annual revenue
- ₹874 Cr
- Annual profit
- ₹44 Cr
- Operating margin
- 10.0%
- Net profit margin
- 5.0%
- EBITDA margin
- 10.4%
- Sales growth 3y
- 20.4%
- Sales growth 5y
- 16.8%
- Profit growth 3y
- 45.0%
- Profit growth 5y
- -8.0%
- EPS
- ₹10.6
- Sales growth TTM
- 57.0%
- Profit growth TTM
- 51.0%
- Dividend payout
- 24.0%
Quarter P&L
- Sales latest quarter
- ₹286 Cr
- Profit latest quarter
- ₹34 Cr
- YoY quarterly sales growth
- 81.9%
- YoY quarterly profit growth
- 209.1%
- OPM latest quarter
- 14.7%
Balance Sheet
- Book Value
- ₹136
- Face Value
- ₹5.0
- Total debt
- ₹109 Cr
- Total cash
- ₹7 Cr
- Borrowings
- ₹109 Cr
- Reserves / Equity
- 26.1
Cash Flow
- Operating cash flow
- ₹99 Cr
- Free cash flow
- -₹45 Cr
- FCF yield
- -3.0%
- Net cash flow
- ₹3 Cr
Shareholding
- Promoter holding
- 71.8%
- FII holding
- 0.1%
- DII holding
- —
- Public holding
- 28.2%
Peer comparison
| Company | Price ₹ | P/E | Mkt cap ₹ Cr | Div yield % | Profit qtr ₹ Cr | Profit var % | Sales qtr ₹ Cr | Sales var % | ROCE % |
|---|---|---|---|---|---|---|---|---|---|
| Sudarshan Chem. | 1,226.60 | 96.1 | 9,762 | 0.41 | 103.4 | 106.1 | 2,642.1 | 5.4 | 5.5 |
| Kiri Industries | 556.25 | 4.5 | 3,621 | 0.00 | 290.7 | 2762.3 | 312.4 | 54.5 | 3.4 |
| Bodal Chemicals | 184.14 | 33.7 | 2,316 | 0.00 | 30.4 | 218.8 | 709.0 | 56.1 | 5.6 |
| Sh.Pushkar Chem. | 517.50 | 23.2 | 1,673 | 0.41 | 22.9 | 9.4 | 280.1 | 10.0 | 12.9 |
| Bhageria Indust. | 377.55 | 23.9 | 1,651 | 0.66 | 33.9 | 203.0 | 286.4 | 81.9 | 9.4 |
| Ultramarine Pig. | 409.60 | 14.6 | 1,194 | 1.46 | 28.0 | 68.2 | 218.9 | 29.8 | 10.1 |
| Sudarshan Colorants | 364.55 | 16.3 | 843 | 0.00 | 20.4 | 19.1 | 222.4 | 5.5 | 11.4 |
| Asahi Songwon | 376.40 | 12.7 | 443 | 0.40 | 19.0 | 508.5 | 188.9 | 26.0 | 8.5 |
| Median | 364.55 | 23.6 | 443 | 0.05 | 19.0 | 203.0 | 188.9 | 29.8 | 8.5 |
Competes with: AksharChem India Limited, Asahi Songwon Colors Limited, Bodal Chemicals Limited, Hindprakash Industries Limited, Kiri Industries Limited, Poddar Pigments Limited, Shree Pushkar Chemicals & Fertilisers Limited, Sudarshan Chemical Industries Limited, Sudarshan Colorants India Limited, Ultramarine & Pigments Limited
Quarterly results
Sales and profit for each of the last 13 quarters. Newest on the right. ₹ crore.
| Line item | Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 98 | 103 | 112 | 182 | 113 | 129 | 170 | 183 | 157 | 204 | 242 | 271 | 286 |
| Expenses | 91 | 94 | 98 | 168 | 101 | 116 | 143 | 153 | 140 | 181 | 222 | 240 | 244 |
| Material Cost | 99 | 106 | 129 | 143 | 162 | 203 | |||||||
| Change in Inventories | 4.84 | -9.94 | 0.58 | -0.14 | 13 | -28 | |||||||
| Purchases of Stock-in-Trade | 5.71 | 7.20 | 18 | 41 | 28 | 32 | |||||||
| Employee Cost | 6.19 | 6.63 | 7.00 | 7.05 | 7.28 | 7.09 | |||||||
| Other Expenses | 38 | 29 | 27 | 31 | 29 | 31 | |||||||
| Operating Profit | 6 | 8 | 14 | 14 | 12 | 14 | 27 | 29 | 18 | 23 | 20 | 31 | 42 |
| OPM % | 6.33 | 8.17 | 13 | 7.88 | 10 | 11 | 16 | 16 | 11 | 11 | 8.17 | 11 | 15 |
| Other Income | 4 | 4 | 6 | 4 | 5 | 3 | -2 | 1 | 6 | 2 | 3 | -4 | 16 |
| Exceptional items (within Other Income) | 0 | 0 | 0 | 0 | 0 | 0 | |||||||
| Interest | 1 | 0 | 0 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 2 |
| Depreciation | 8 | 8 | 8 | 8 | 7 | 8 | 8 | 8 | 8 | 8 | 8 | 9 | 10 |
| Profit before tax | 1 | 4 | 11 | 10 | 8 | 8 | 16 | 22 | 15 | 16 | 14 | 17 | 46 |
| Tax % | 12 | 29 | 28 | 34 | 28 | 24 | 29 | 30 | 29 | 29 | 22 | 32 | 26 |
| Net Profit | 1 | 3 | 8 | 6 | 6 | 6 | 11 | 15 | 11 | 11 | 11 | 11 | 34 |
| EPS in Rs | 0.29 | 0.63 | 1.89 | 1.55 | 1.36 | 1.50 | 2.78 | 3.61 | 2.58 | 2.70 | 2.56 | 2.71 | 7.82 |
| Diluted EPS in Rs | 3.61 | 2.58 | 2.70 | 2.56 | 2.71 | 7.83 |
Profit & loss
Yearly sales, costs and profit for 12 years, plus the last 12 months (TTM). ₹ crore.
| Line item | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM |
|---|---|---|---|---|---|---|---|---|
| Sales | 414 | 402 | 601 | 501 | 494 | 595 | 874 | 1,003 |
| Expenses | 316 | 298 | 485 | 447 | 451 | 513 | 783 | 887 |
| Material Cost | 307 | 541 | ||||||
| Change in Inventories | 9.29 | 3.91 | ||||||
| Purchases of Stock-in-Trade | 36 | 93 | ||||||
| Employee Cost | 24 | 28 | ||||||
| Other Expenses | 138 | 117 | ||||||
| Operating Profit | 98 | 104 | 116 | 54 | 44 | 81 | 91 | 116 |
| OPM % | 24 | 26 | 19 | 11 | 9 | 14 | 10 | 12 |
| Other Income | 6 | 4 | 9 | 4 | 16 | 7 | 7 | 16 |
| Exceptional items (within Other Income) | 0 | 0 | ||||||
| Interest | 2 | 1 | 2 | 4 | 2 | 3 | 3.42 | 4 |
| Depreciation | 23 | 26 | 29 | 34 | 32 | 31 | 33 | 34 |
| Profit before tax | 79 | 81 | 95 | 20 | 26 | 54 | 62 | 93 |
| Tax % | 16 | 23 | 26 | 28 | 29 | 29 | 28 | |
| Net Profit | 66 | 63 | 71 | 15 | 19 | 39 | 44 | 68 |
| EPS in Rs | 15 | 14 | 16 | 3.38 | 4.37 | 9.26 | 11 | 16 |
| Diluted EPS in Rs | 9.26 | 11 | ||||||
| Dividend Payout % | 20 | 24 | 25 | 30 | 23 | 16 | 24 |
Compounded growth
Average yearly growth over different spans, as stored. A span can cross a demerger or an acquisition.
Compounded sales growth
- 10 years
- —
- 5 years
- 17%
- 3 years
- 20%
- TTM
- 57%
Compounded profit growth
- 10 years
- —
- 5 years
- -8%
- 3 years
- 45%
- TTM
- 51%
Stock price CAGR
- 10 years
- 9%
- 5 years
- 4%
- 3 years
- 34%
- 1 year
- 113%
Return on equity
- 10 years
- —
- 5 years
- 7%
- 3 years
- 5%
- Last year
- 7%
Balance sheet
What the company owns and what it owes, at the end of each year. ₹ crore.
| Line item | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|
| Equity Capital | 22 | 22 | 22 | 22 | 22 | 22 | 22 |
| Reserves | 380 | 430 | 485 | 484 | 501 | 536 | 575 |
| Borrowings | 21 | 31 | 35 | 38 | 47 | 46 | 109 |
| Other Liabilities | 103 | 92 | 104 | 87 | 106 | 128 | 154 |
| Minority Interest | -2.04 | -3.63 | |||||
| Total Liabilities | 526 | 575 | 646 | 631 | 676 | 733 | 860 |
| Fixed Assets | 331 | 320 | 394 | 365 | 348 | 350 | 384 |
| CWIP | 18 | 45 | 0 | 8 | 17 | 11 | 117 |
| Investments | 0 | 4 | 8 | 13 | 24 | 23 | 24 |
| Other Assets | 176 | 206 | 244 | 245 | 287 | 350 | 335 |
| Total Assets | 526 | 575 | 646 | 631 | 676 | 733 | 860 |
Cash flows
Real money coming in and going out each year — from the business, from investments and from loans. ₹ crore.
| Line item | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|
| Cash from Operating Activity | 59 | 58 | 76 | 28 | 23 | 49 | 99 |
| Cash from Investing Activity | -45 | -44 | -58 | -23 | -33 | -44 | -142 |
| Cash from Financing Activity | -10 | -3 | -14 | -16 | 5 | -9 | 46 |
| Net Cash Flow | 3 | 10 | 4 | -11 | -5 | -3 | 3 |
| Free Cash Flow | -8 | 19 | 16 | 7 | -2 | 26 | -44 |
Ratios
How fast customers pay, how long stock sits, and how well capital earns — year by year.
| Line item | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|
| Debtor Days | 69 | 87 | 63 | 93 | 115 | 115 | 66 |
| Inventory Days | 57 | 63 | 63 | 45 | 48 | 51 | 32 |
| Days Payable | 77 | 62 | 50 | 41 | 66 | 71 | 43 |
| Cash Conversion Cycle | 49 | 88 | 76 | 96 | 97 | 95 | 56 |
| Working Capital Days | 72 | 85 | 68 | 87 | 121 | 101 | 59 |
| ROCE % | 18 | 19 | 4 | 5 | 8 | 9 |
Price trend
The price as a Renko brick chart: small moves drop out so the bigger path stands out.
Every brick is the same size, about one typical day's move. A new brick needs a full brick's move; turning the other way needs two. Bricks show where the price went, not where it will go.
Open interestPRO
Where option traders are positioned on this stock.
Industry numbers
The numbers that matter most in this industry, from the company's own filings.
1 when an audit qualification is filed as repetitive
0.00flag
2026-03-31
the company's own unlisted debt securities in default at period end
0.00cr
2026-06-30
exports as % of revenue
27.00
the company's own loans / revolving facilities in default at period end (standalone filing)
0.00cr
2026-06-30
guarantees / comfort given for promoter, promoter group, directors and KMP
0.00cr
2026-03-31
loans outstanding to promoter, promoter group, directors and KMP (governance filing)
0.00cr
2026-03-31
security given for the borrowing of promoter, promoter group, directors and KMP
0.00cr
2026-03-31
News
News and filings about Bhageria Industries Limited. Open one to see why it matters.
21 Sept, 18:05 IST · Company event · low impact
Significant movement in price has been observed in Bhageria Industries Limited.
Supply chain
Who it buys from, sells to and competes with — as recorded in our map of company links.
Competes with
Uses as raw material
- Aniline
- Beta Naphthol
- Caustic Soda Flakes
- Naphthalene (crude derivative; H-acid feedstock)
- Sulphur (feedstock for captive sulphuric acid/oleum plant)
- Tobias Acid (naphthalene derivative)
Depends on the price of
- Crude Oil Brent
- caustic_soda
Sells to
- SECI (Solar Energy Corporation of India) · Solar power — 30 MW plant under 25-year PPA with SECI
About
What the company is, from our own records: where it sits, where it makes things, and what it is made of.
- Sector
- Chemicals
- Industry
- Dyes And Pigments
- Classification
- Chemicals › Dyes And Pigments
- ISIN
- INE354C01027
Business segments
- (a) Segment -A (Chemical) · 95%
- (b) Segment -B (Solar Power) · 3%
- (d) Others · 1%
- (c) Segment -C (Pharma) · 1%
Plants
- Bhageria 30 MW Solar Power Plant
- Bhageria Tarapur Chemical Plant
- Bhageria Vapi Chemical Complex
News impact
Big market events that reach Bhageria Industries Limited, and how the effect spreads.
No recent market events reach this company.
Dividends, splits & big trades
Money paid out, share splits and buybacks, and big buys or sells by funds and insiders.
Dividends
| 24 Jul 2026 | unspecified | ₹2.5 |
|---|---|---|
| 25 Jul 2025 | unspecified | ₹1.5 |
| 23 Aug 2024 | unspecified | ₹1 |
| 1 Sep 2023 | unspecified | ₹1 |
| 21 Jul 2022 | unspecified | ₹4 |
| 22 Jul 2021 | unspecified | ₹3.5 |
| 20 Aug 2020 | unspecified | ₹3 |
| 23 Aug 2019 | unspecified | ₹1.125 |
Splits, bonuses & buybacks
- daily-prices repair: 9 rows from NSE's archive (replace 1, delete 1, insert 7), 2016-10-30..2026-02-01 (docs/flat_day_repair.md)1× · 30 Oct 2016
Insider trades
| Disclosed | Who | Type | Shares | Value ₹ Cr |
|---|---|---|---|---|
| 26 Aug 2026 | Aditya Bhageria · Promoter Group | BUY | 10,000 | 0.22 |
| 25 Aug 2026 | Aditya Bhageria · Promoter Group | BUY | 11,652 | 0.26 |
| 24 Aug 2026 | Aditya Bhageria · Promoter Group | BUY | 5,000 | 0.11 |
| 21 Aug 2026 | Aditya Bhageria · Promoter Group | BUY | 6,122 | 0.13 |
| 21 Aug 2026 | Aditya Bhageria · Promoter Group | BUY | 5,000 | 0.10 |
Documents
Annual reports, results presentations and earnings calls, straight from the source.
- Annual report · 2025-269 Jul 2026
Facts from company filings and exchange data. Not investment advice: nothing here tells you to buy or sell.